Boothbay Fund Management LLC Invests $4.49 Million in ATI Inc. (NYSE:ATI)

Boothbay Fund Management LLC purchased a new stake in ATI Inc. (NYSE:ATI) during the fourth quarter, HoldingsChannel reports. The firm purchased 81,656 shares of the basic materials company’s stock, valued at approximately $4,494,000.

Other hedge funds also recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in ATI during the fourth quarter worth approximately $25,000. Mainstream Capital Management LLC bought a new position in shares of ATI during the fourth quarter worth approximately $94,000. EverSource Wealth Advisors LLC lifted its holdings in ATI by 20.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,729 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 288 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in ATI by 236.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,406 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in ATI by 137.7% in the 4th quarter. Blue Trust Inc. now owns 2,617 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 1,516 shares during the period.

Analysts Set New Price Targets

ATI has been the topic of several recent research reports. Susquehanna increased their price objective on ATI from $70.00 to $73.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. StockNews.com raised shares of ATI from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. KeyCorp raised shares of ATI from a “sector weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Wednesday. Barclays raised their target price on shares of ATI from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Benchmark reiterated a “buy” rating and issued a $81.00 price target on shares of ATI in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.29.

ATI Price Performance

ATI stock opened at $53.05 on Friday. The company’s 50-day moving average price is $51.52 and its two-hundred day moving average price is $56.01. The firm has a market cap of $7.48 billion, a P/E ratio of 20.80, a P/E/G ratio of 0.85 and a beta of 0.80. The company has a quick ratio of 1.32, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. ATI Inc. has a 12 month low of $39.23 and a 12 month high of $68.92.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.19. ATI had a net margin of 8.43% and a return on equity of 21.16%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that ATI Inc. will post 2.89 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Tina Killough Busch sold 9,900 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $66.41, for a total value of $657,459.00. Following the sale, the senior vice president now directly owns 25,994 shares in the company, valued at approximately $1,726,261.54. This trade represents a 27.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

ATI Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.